If you are considering signing-up to a property investment course and have researched your options online, you have probably encountered some negative experiences and scepticism. Perhaps the question you now have is: ‘Are property investment courses a scam?’ The aim of this article is to look at property investment education objectively, to help you to make an informed decision, and most importantly, to stay safe.
Do not trust what we say
Your next thought may be: ‘How can I trust this article?’ Questioning our motives as a provider of property training demonstrates that you are at least able to approach the subject with critical thinking. Rather than taking the word of others, including ourselves, being armed with enough knowledge to form an educated opinion is the right strategy to take.
At Asset Academy, we are passionate that everyone should have the right to take responsibility for their own lives through knowledge and education. In fact, we have made it our goal to become the best property investment educator in the world. It is therefore our personal responsibility to provide the tools, that people like yourself need, to make safe decisions regardless of who they choose to learn with.
So do not take our word for it… or anyone else’s for that matter. In this article we aim to give you the right tools to do your own due diligence based on accurate information rather than hearsay. We share this information with you in the hope that you will never end up being on one of the property investing forums pleading for help.
Are Property Investment Courses a Scam?
Broadly speaking a scam is an illegal trick, for the purpose of obtaining money through deception. Like many industries, property investment education has not been immune to illegal tricks and deception. Part of the issue lies in the fact that it sometimes attracts people who are seeking an answer, and unfortunately this may make them vulnerable to being deceived.
There are well-documented accounts of companies who have deceived ‘customers’ into signing-up to training courses that have not delivered on the promises made. Inflated claims and boasts have wrongly been used as sales tools in the past to prey on the vulnerable, sadly resulting in dire financial consequences on occasion. History therefore, would make it prudent for the buyer to beware.
The question of ‘Are property investment courses a scam’ draws parallels with ‘Are private landlords unscrupulous’. It is unfortunate that in both circumstances the question has arisen through the deceptive dealings of a minority. To paint an entire industry with the brush of trickery is neither fair or accurate. Evidently, unscrupulous dealings have tarnished property education, and it is now the responsibility of authentic companies to lead the way.
5 tips for spotting a scam
- You can get rich quick
The first red flag should be courses that promote unimaginable wealth, fast and with very little effort. At this point alarm bells should start ringing and it’s time to wake up. The hard truth is – ALL success in property investing will take time, commitment and a lot of hard work. Anyone who tells you otherwise is not being honest.
- The trainer’s credentials
Researching the people who teach the courses will begin to paint a picture of how qualified they are to share the knowledge. The types of questions to ask are:
Are they property investors themselves?
How successful are they as investors?
For how long have they been investing?
If they have spent more time teaching than investing, it may raise questions about their property investing credentials. If in doubt, call and ask.
- Trust me, I’m a millionaire!
Inflated boasts about wealth and success are likely to be the tactics of someone with something to prove. Meeting real people who can modestly demonstrate how a process has worked for them can add true value. However, suggestions that ‘you too can own a Lamborghini and be this happy’ may cause you to question their authenticity.
- Depth of learning
Finding a training provider who offers a wide range of courses, that are high in valuable content, can be an indication of a deep knowledge of the subject matter. As a beginner, it can be difficult to know what to look for as there are many ways of investing in property. Taking the time to research online through the many free resources will give you an indication however.
- Ask questions
One of the easiest ways to gauge the authenticity of a property training provider is to simply ask them direct questions about the courses, the content, the trainers and ongoing support. A credible educator should be forthcoming with their answers and not give the impression of withholding information or being vague. If the company’s contact details are limited or not easy to find, this again could be a red flag.
Do your due diligence
As with buying an investment property, doing your due diligence is paramount for safety and success. Horror stories most often occur when the buyer has rushed into a decision without doing their prior research. As a buyer, due diligence is your responsibility – ask any successful investor!
It is not mere coincidence that we have legitimate tips for spotting a property training scam. The Asset Academy is a community of professional property investors who have witnessed the common short-fallings of property investing and education over the years. Built on this experience, is a genuine desire to promote honesty, transparency and realistic success within property investing.
By implementing the tips in this article, we hope that you too can spot property training courses that are not authentic, thereby avoiding a regrettable mistake. We would urge you to gather all the objective information available before taking action. We are of course here to answer any questions you may have or to offer advice on courses and training if required, so feel free to get in touch. Be informed and be safe on your journey.